WePay: how to avoid chargebacks

Now that you’re on your way to making sales with WePay, you’ll want to do your best to avoid chargebacks and returns. A chargeback is the payment industry term for a broad set of customer protections for credit and debit transactions. A chargeback occurs when a cardholder contacts his or her bank to dispute a charge.

Clearly stating your Terms and Conditions is critical both for earning customer trust, and also for your payment processor and bank to help defend against chargeback requests.

Here are tips to create clear billing descriptors and Terms and Conditions.

Create A Clear Billing Descriptor

What is a billing descriptor? A billing descriptor is the merchant information that is displayed on a customer’s bank or credit card statement. All descriptors from WePay will begin with WPY* and conclude with your store name.

Example Billing Descriptor: WPY*SurfParadise

One of the most important things for merchants to do is ensure their customers can easily recognize credit charges from their store on bank statements. The billing descriptor is displayed in bank statements next to the total payment amount.

A customer is much more likely to file a dispute against a charge if they do not recognize the descriptor that displays on their card statement, or on the list of charges in their online banking platform.

Examples of descriptors that may cause customer concern:

WPY*

WPY*noname

WPY*Online Store

This store name in your Ecwid settings is passed to WePay to populate the billing descriptor for your customers. When you sign up, the default is “Online Store.” You will want to update this field with the name of your business so your customers easily recognize charges from your store.

How to update your billing descriptor in Ecwid

Enter the name of your business in the “store name” field in the profile information in your Control Panel. Your billing descriptor will begin with WPY* your store details will follow. In our example, the billing descriptor is: WPY*Surf Paradise

Access your store name by following this path: Settings -> General ->Store Profile -> Store Name

Information from your store profile will also show on your customer’s invoices and receipts. Complete this information accurately so customers can contact you directly if they have questions about their purchase(s).

Here you’ll find a number of options to clarify your store’s policies for customers.

Update all of your legal content to include your WePay billing descriptor.

Clarify Your Refund/Return Policy

Post your return/exchange/refund policies for customers and let them know how to contact your business to resolve questions or concerns. Many chargebacks can be avoided if customers can easily work directly with you to resolve purchase issues. When merchants cannot be contacted easily, chargeback rates increase.

Here you can find the article with general information about WePay: WePay